I Will Teach You To Be Rich

I Will Teach You To Be Rich – Book Review

Review By Dr Carmen Lynne

By: Ramit Sethi (2010); ISBN 978-0-7611-4748-0; Book Price: $15.95

In this book, you can find out how to start with any amount of money and become wealthy.

Be Rich

Ramit Sethi is the founder and writer of iwillteachyoutoberich.com, which hosts over 250,000 readers every month. He is a recent graduate of Stanford University and a co-founder of PBwiki, an online collaboration company. He is a New York Times Bestselling author featured on ABC News, CNN, and Wall Street Journal, etc.

Learning to be rich

Ramit Sethi presents 9 chapters to help readers to learn to be rich. He shares on optimizing credit cards (Ch. 1), beating the banks (Ch. 2), investing (Ch. 3), conscious spending (Ch. 4), saving while you sleep (Ch. 5), the myth of financial expertise (Ch. 6), picking a portfolio that will make you rich (Ch. 7), optimizing finances (Ch. 8), and more.

Enjoy learning how money works

Ramit Sethi has a fresh style aimed at resourcing readers to enjoy the process of becoming rich. He says, “Spend extravagantly on the things you love, and cut costs mercilessly on the things you don’t. This book isn’t about telling you to stop buying lattes. Instead, it’s about being able to actually spend more on the things you love… ”

Ramit employs points to deliver concise keys. Discussing credit cards and winning over debt, he shares, “The Six Commandments of Credit Cards… 1. Pay off your credit card regularly… 2. Get all fees waived on your card… 3. Negotiate a lower APR (annual percentage rate)… 4. Keep your cards for a long time and keep them active… ”

The teaching that Ramit presents is punctuated with helpful hints as, “Online savings accounts let you earn dramatically more interest with lower hassle.” These hints add value to readers and keep interest high!

Potent headings as, “Investing is the single most effective way to get rich” will inspire interest and engage readers.

Sethi works hard to correct false concepts, as in frugal V’s cheap. He suggests, “… we confused frugality with cheapness… Frugality isn’t about cutting your spending on everything… It’s about making your own decisions…”

The attraction of Ramit Sethi’s teaching is his intermittent focus on benefits. He relays, “Unlike other people, who worry about money (because they never learned how it works), you get to focus on the things you love.”

Get rich results

Ramit Sethi skillfully instructs readers to get rich results while maintaining an engaging presentation of ideas. For quick wealth building ideas:

Success Step: Describe a simple map for becoming rich (e.g. work,

innovate, save, invest… ); Follow your map!

Article Source: I Will Teach You To Be Rich – Book Review

Book of the Month for March 2015

Wishing you well,

Daniel R. Murphy
Educating people for building wealth, adapting to a changing future and personal development.

The Seven Habits of Highly Effective People by Stephen R. Covey (1989)

The October 2013 Books2Wealth Book of the Month—

The seminal book on personal development and leadership of the 1980s this book, first published in 1989, was a #1 best seller and continues to be a popular book. In it Covey divides personal development into seven categories and assigns to them a habit or set of habits that will improve one’s life.

First Covey discusses the importance of principles and of leading one’s life according to principles. He also discussed our perceptions and how we can change the way we look at things through shifting a paradigm. Then he moves to the seven habits.

Read the full book review here…

Buy the book here…

Wishing you well,

Daniel R. Murphy
Educating people for building wealth, adapting to a changing future and personal development.

Never Eat Alone by Keith Ferrazi

Never Eat Alone by Keith Ferrazzi — Book Review

This is one of a series of recent books by several authors about the importance of building and maintaining a network of friends, associates and business contacts to further your financial and business potential. The general thesis of these books is that it is critical to build a large address book of people who you are willing to help and who may be willing to help you get where you want to go.

Ferrazzi divides his book into four sections. In Section One he discusses the mindset of, as he names it, “becoming a member of the club”. That is, of becoming a member of the network of movers and shakers that make things happen in your community, your industry and your future. He keeps the focus on as selfless a method on this as possible although the bottom line in forming these relationships is always an eye to what they can bring back to you someday somehow.

He profiles famous people who are famous for their networking ability and achievements like Bill Clinton, Katherine Graham and Dale Carnegie, to name a few. He tells you how their broad networks helped them achieve things both personal and otherwise that could not have otherwise been done.

In Section Two he describes the “skill set” for creating and nurturing these relationships. He teaches you to do homework on people, take names, get to know what is important to people before you meet them, and of course as his book suggests, never eat alone – use opportunities like lunches, dinners and breakfasts to network and nurture relationships so that when you are in need of help you will have a lot of people to call upon.

Section Three focuses on the refinement of these arts and Section Four ties it up with discussions about how to build your brand and identity and some additional tools like writing that can enhance your relationship building.

In one sense there is an exploitive and mercenary quality to Ferrazzi’s book. He is teaching people to form relationships with an eye on how they will serve you in the future. However upon reflection one must admit that almost all forms of socialization contains this rather selfish motivation. We establish and maintain our social connections in life at least as much for our own protection and survival as we do for any selfless purpose. Ferrazzi simply calls is it like it is and helps us learn how to do this effectively.

To be fair Ferrazzi stresses that if you form relationships only for what you can derive from them you will lose. People know when they are being manipulated and used. However people also expect some degree of quid pro quo in their relationships with others – there is a “you scratch my back if I scratch yours” in almost every relationship. As long as the only or primary purpose of building relationships is not overtly selfish, Ferrazzi maintains, it can serve you and your friends very well.

If you are a natural or accomplished social butterfly or networker in today’s parlance you may find a few useful tips here and you will definitely identify with many of his strategies. If you are shy, socially challenged or in need of new ways to enhance and expand your relationships this book may be a good source of methods and thinking on this.

Keith Ferrazzi has a very forceful and “in your face” personality that comes through in his writing. You may or may not warm up to that. However if that does not put you off, and it should not, you will likely learn a thing or two there.

©2005 Keith Ferrazzi

Published by Doubleday, a division of Random House, Inc.


Rating: Over all this is a good book and useful. It has some entertainment value as well.

Wishing you well,

Daniel R. Murphy
Educating people for building wealth, adapting to a changing future and personal development.